What do entrepreneurs usually mean when they talk about a business plan?

EXAM 31. ______________________ ______________ _________ is a component of the business model that identifies risks in the model and how the model can adjust to them.
2. The __________________ ________________________ is a forecasting method that begins with a large-scope variable and works down to the sales forecast.
3. The buildup process is a forecasting method in which all potential buyers in a target markets submarkets are identified and the estimated demand is added up.
4. Fixed costs, variable costs and semi-variable costs are all part of the cost structures, which affect a firms costs and expenses.
a. True
b. False

6. When should you write a business plan? When might it not be necessary or even advisable to write a plan?
7. What is the scope of small business marketing? What do you think the differences in marketing might b e if you were a manager in a large corporation?
8. What are the obstacles to adopting a consumer orientation in a small firm?
9. An _______ _______________ is a section of the business plan that focuses on options for cashing out of the investment.
10. Projections of a companys financial statements for up to five years, including balance sheets, income statements, and statements of cash flows are called ____ ________ __________________.
11. How do the three marketing philosophies differ?
12. Briefly describe each of the components of a formal marketing plan.
13. Explain why forecasting is used more widely by large firms than by small ones.
14. A ________________ _________________ is a description of potential customers in a target market.
15. A core product or service is the basic physical product and or service that delivers those benefits.
a. True
b. False
16. An actual product or service provides the fundamental benefit or solution sought by customers.
a. True
b. False
17. The ____________________ ____________ describes how the firm will reach and service customers within a given market.
18. Please list and describe the four little things that help with the desired attention to details.
19. What are some common mistakes entrepreneurs make when they write a business plan?
20. What is a business model and why is it important?
21. Why is the executive summary so important?
22. What are the two types of business plans? In what situation(s) would you use each type of plan?
23. Describe the major sections to be included in a business plan.
24. Briefly describe each of the components of a formal marketing plan.
25. What are the steps in the marketing research process? Which step do you feel would be the hardest for you to take? Why?

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